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Oct 8, 2013
10/13
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every major spending reduction deal of the last 30 years has been done with the debt ceiling. the president is the one that is saying he wants to change that trend, and do this entire debt ceiling proposal without any efforts. >> with all due respect sir, the democrats have come down to about the paul ryan spending number. what you just talked about, the compromises you want, are still on the affordable care act, which are not about spending. that is a settled policy. you're still tying the affordable care act to raising the debt ceiling. you just did it. >> no, i mean, i -- you're -- i'm not -- we've got two issues here. the continuing resolution, the proposals i talked to about the affordable care act are connected with the continuing resolution. what i've told you with the debt ceiling is that we ought to focus on bringing spending reductions to the table like we have done with every major -- every president over the last 30 years. we ought to do it now, too. frankly, i think, though, it's way bigger than that for america. we're at a point now where the president and harry
every major spending reduction deal of the last 30 years has been done with the debt ceiling. the president is the one that is saying he wants to change that trend, and do this entire debt ceiling proposal without any efforts. >> with all due respect sir, the democrats have come down to about the paul ryan spending number. what you just talked about, the compromises you want, are still on the affordable care act, which are not about spending. that is a settled policy. you're still tying...
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every few days the ongoing political uncertainty over the budget over the debt ceiling does not help the government shutdown is bad enough but phil you to raise the debt ceiling would be far worse. and could very seriously damage not only the u.s. economy but also the entire global economy. in the meantime in less than two weeks america will run out of money unless lawmakers agree to raise the debt ceiling the failure will lead to devastating effects warning from the u.s. treasury department's predicting an unprecedented default with catastrophic consequences with the collapse of the american economy sending shock waves across the globe and doing with the financial crisis and recession was the two thousand and eight meltdown. the u.s. government shutdown is taking its toll on the president's plans as well was barack obama forced to cancel a trip to asia and mr summits the federal stoppage as place hundreds of thousands of workers on paid leave is costing the american economy at least three hundred million dollars every day hitting businesses and consumer confidence qantas leaving fro
every few days the ongoing political uncertainty over the budget over the debt ceiling does not help the government shutdown is bad enough but phil you to raise the debt ceiling would be far worse. and could very seriously damage not only the u.s. economy but also the entire global economy. in the meantime in less than two weeks america will run out of money unless lawmakers agree to raise the debt ceiling the failure will lead to devastating effects warning from the u.s. treasury department's...
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Dec 18, 2013
12/13
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BLOOMBERG
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house or the the senate is willing to give the president a clean debt ceiling increase. every time the president asks us to do that is a good time to try to achieve something important for the country. so with one battle almost out of the way, a new one is gearing up. democrats have no plans to negotiate over the debt limit. republican lawmakers are discussing when they hope to get out of it. february 7 is when the debt ceiling suspension negotiated in october shutdown deal expires. expect another showdown then. >> yang yang in washington. the current congress is on its way to establishing a new record, one that it cannot be proud of. congress is going to have its least productive year ever with 57 laws enacted so far. the former record low was 88. phil mattingly has more on what is being called the do-nothing congress. historic. that is the most accurate way to describe the inaction in congress. this group will clear the fewest number of loss in history. congress third time has cleared fewer than 100 laws and marks a new law for the five years president obama has been i
house or the the senate is willing to give the president a clean debt ceiling increase. every time the president asks us to do that is a good time to try to achieve something important for the country. so with one battle almost out of the way, a new one is gearing up. democrats have no plans to negotiate over the debt limit. republican lawmakers are discussing when they hope to get out of it. february 7 is when the debt ceiling suspension negotiated in october shutdown deal expires. expect...
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Oct 8, 2013
10/13
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FOXNEWSW
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nobody has seriously threatened to breach the debt ceiling until the last few years. and this is our word and our good name. this is real. and the government shut done millions faced hardship in a economic shut done. every american could see their 401 cave and home values fall. and student loans rise and there could be a significant risk of a very deep recession at a time when we are still climbing our way out of at worst recession. the american people have fought too hard and too long from wuon crisis only to see one precipitate another one. the good news is over the past three rand a half years, new businesses created new jobs. we cut the deficit in half. it is coming down faster than any time in the last 50 years. america is poised to become the number one energy producer this year. this year we are pro duducing m oil than we are importing. but the uncertainty caused by one week has reconsidered businesses to think about hiring and seen mortgages held up by thousands of home buyers not sure about the economic situation. and all of this adds to it. we can't afford t
nobody has seriously threatened to breach the debt ceiling until the last few years. and this is our word and our good name. this is real. and the government shut done millions faced hardship in a economic shut done. every american could see their 401 cave and home values fall. and student loans rise and there could be a significant risk of a very deep recession at a time when we are still climbing our way out of at worst recession. the american people have fought too hard and too long from...
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Oct 8, 2013
10/13
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. >> every night share undiscovered stories. >> we're back talking about the risks of the debt ceiling. >> jill, you help dea governmens deal with their debt issues. what happens when states go into default? >> usually it's not the size of the united states. when a country defaults--first of all, a country does everything in its power to avoid a default, and it will engage with interested parties long before a default would actually occur. in order to avoid that default. they would like to negotiate a solution or some kind of alternative scenario. >> pushing off debt. >> yes, proverbial kicking the can down the road? you would find some other solution rather than defaulting on your correct. >> now you think that this is a game of chicken and each side is waiting for the other side to blink first. if we go down this road and the president does not use some form of executive power or there is still some stalemate how does that impact the view of the united states internationally, particularly those who hold the most debt, the chinese and japanese? >> i think it's very problematic if the
. >> every night share undiscovered stories. >> we're back talking about the risks of the debt ceiling. >> jill, you help dea governmens deal with their debt issues. what happens when states go into default? >> usually it's not the size of the united states. when a country defaults--first of all, a country does everything in its power to avoid a default, and it will engage with interested parties long before a default would actually occur. in order to avoid that default....
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Oct 8, 2013
10/13
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we are going to have an economic problem if we don't raise the debt ceiling. the president has to educate why we can't afford the debt ceiling right now. >> here is the president of the united states, president obama. >> this morning i had a chance to speak with speaker boehner. i told him i was happy to talk to him and other republicans about anything. not gis just issues i think are important, but also issues i thy think are important. i also told him that having such a conversation, talks negotiations should not require hanging in the threats of a government shutdown or economic chaos over the heads of the american people. think about it this way. the american people do not get to demand a ransom for doing their jobs. you don't get a chance to call your bank and say, i'm not going to pay my mortgage this month unless you throw in a new car or an xbox. if you are in negotiations around buying someone's house you don't get to say, well let's talk about the price i'm going to pay. and if you don't give me the price i will burn down your house. that is not how
we are going to have an economic problem if we don't raise the debt ceiling. the president has to educate why we can't afford the debt ceiling right now. >> here is the president of the united states, president obama. >> this morning i had a chance to speak with speaker boehner. i told him i was happy to talk to him and other republicans about anything. not gis just issues i think are important, but also issues i thy think are important. i also told him that having such a...
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Jan 15, 2013
01/13
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>> because there was no imminent threat of the debt ceiling not being raised, right? these were protest vote ofs, as opposed to organized efforts -- >> neil: i don't know. i covered at the time. that was a close call. that was a close call. every prominent democrat voted to stop it. you are right nretrospect tdidn't happen and like the prior incidents, it never happened. but i just worry about giving a president of either party cart blanch authority to go ahead and raise the debt ceiling t. does take away, what little incentive and back bone there is to show a back bone, doesn't it? >> i don't agree. neil, i have a lot of respect for you and this show. i just don't agree with you. what i wish would happen right now, let paul ryan -- the republicans are in control of the house. they have a budget committee chairman who is nationally regarded, vice-president of the republican party. let him hold hearings, engage the american people, pass a budget, challenge the democrats to meet him halfway -- >> neil: i am not saying -- [overlapping dialogue] >> neil: but they do come
>> because there was no imminent threat of the debt ceiling not being raised, right? these were protest vote ofs, as opposed to organized efforts -- >> neil: i don't know. i covered at the time. that was a close call. that was a close call. every prominent democrat voted to stop it. you are right nretrospect tdidn't happen and like the prior incidents, it never happened. but i just worry about giving a president of either party cart blanch authority to go ahead and raise the debt...
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Dec 13, 2013
12/13
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i think you know every package has been attached to a debt ceiling. even today's budget control act, every president in your lifetime and my lifetime has negotiated on a debt ceiling. i've had our capable staff resterge issue. the debt ceiling tends to be the early warning system that spending is out of control yet on september 15 of this year the president took the unprecedented and radical action of stating i will not negotiate on the debt ceiling. so is it the position of this administration that if congress does not functionally repeal the debt ceiling and allow the president to spend what he wishes that he is threatening default on our sovereign debt? >> mr. chairman, i would disagree with the characterization of the debt ceiling as an early warning. the debt ceiling is at the very end. all the decisions congress makes on entitlement programs that determines -- >> are you aware of any other president in our lifetime who has taken the radical position of stating he will not negotiate deficit reduction on the debt sealing? >> mr. chairman i think w
i think you know every package has been attached to a debt ceiling. even today's budget control act, every president in your lifetime and my lifetime has negotiated on a debt ceiling. i've had our capable staff resterge issue. the debt ceiling tends to be the early warning system that spending is out of control yet on september 15 of this year the president took the unprecedented and radical action of stating i will not negotiate on the debt ceiling. so is it the position of this administration...
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Oct 8, 2013
10/13
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then serious negotiations could proceed around every item in the budget. now, as soon as congress votes to reopen the government, it's also got to vote to meet our country's commitments, pay our bills, raise the debt ceiling because as reckless as a government shutdown is, the economic shutdown caused by america defaulting would be dramatically worse and i want to talk about this for a minute because even though people can see and feel the effects of a government shutdown, they're already experiencing it right now, there's still some people out there who don't believe that default is a real thing and we've been hearing that from some republicans in congress ta default would not be a big deal. so let me explain this. if congress refuses to raise what's called the debt ceiling, america would not be able to meet all of our financial obligations for the first time in 225 years. and because it's called raising the debt ceiling, i think at lot of americans think, it's raising our debt. it is not raising our debt. this does not add a dime to our debt. it simply s
then serious negotiations could proceed around every item in the budget. now, as soon as congress votes to reopen the government, it's also got to vote to meet our country's commitments, pay our bills, raise the debt ceiling because as reckless as a government shutdown is, the economic shutdown caused by america defaulting would be dramatically worse and i want to talk about this for a minute because even though people can see and feel the effects of a government shutdown, they're already...
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Dec 14, 2013
12/13
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the debt ceiling is suspended until every seven. that's what often we expect ysidro progress next week before they break for the holiday? >> in the senate, we can expect to see a few things. we can expect to see a vote on the homeland security nominee on monday and janet yellen confirmation -- janet yellen's confirmation will be next week. looking ahead to 2014, speaker boehner formally invited president obama to deliver a state of the union address on january 28. the president accepted. mark your calendars. >> again, thank you. we will have more on the budget agreement and what might happen in the senate next week. political strategist at atomic research group will join me for analysis and a look into what could be considered a crystal ball at the eye. that is coming up in 10 minutes. let's get you more from al withs extended interview harry reid for tonight's political capital. the elimination of the filibuster will not change legislation. the rule change was necessary. withu have an agreement mitch mcconnell, so you don't need to
the debt ceiling is suspended until every seven. that's what often we expect ysidro progress next week before they break for the holiday? >> in the senate, we can expect to see a few things. we can expect to see a vote on the homeland security nominee on monday and janet yellen confirmation -- janet yellen's confirmation will be next week. looking ahead to 2014, speaker boehner formally invited president obama to deliver a state of the union address on january 28. the president accepted....
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Oct 8, 2013
10/13
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ceiling. because as reckless as a government shutdown is, the economic shutdown caused by america defaulting, would be dramatically worse. i want to talk about this for a minute because even though people can see and feel the effects of a government shutdown, they are already experiencing it right now, there are still some people out there who don't believe that default is a real thing. we've been hearing that from some republicans in congress that default would not be a big deal. let me explain this. if congress refuses to raise what's called the debt ceiling, america would not be able to meet all of our financial obligations for the first time in 225 years. and because it's called raising the debt ceiling, i think a lot of americans think, it's raising our debt. it is not raising our debt. this does not add a dime to our debt. it simply says, you paid for what congress has already authorized america to purchase, whether that's the greatest military in the world or veterans benefits or social
ceiling. because as reckless as a government shutdown is, the economic shutdown caused by america defaulting, would be dramatically worse. i want to talk about this for a minute because even though people can see and feel the effects of a government shutdown, they are already experiencing it right now, there are still some people out there who don't believe that default is a real thing. we've been hearing that from some republicans in congress that default would not be a big deal. let me...
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Oct 18, 2013
10/13
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KQED
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which is defensible in the context of history because every president has negotiated on the debt ceiling. he served on the senate. he knows the only time the senate acts is when there's a pressure point when the congress acts there's a pressure point. pressure points are almost always things like continuing resolutions, debt ceilings or recesses. >> rose: i'm not here to defend him because i believe it's better to engage than not engage. at the same time wasn't he engaged, wasn't he on the phone with everybody, wasn't he doing things. he was the like playing golf. there was a trip that was damaging to the united states. >> and he did call people down at the white house to talk but he didn't take the next step. there was a group, in my, this is where i think the failure occurred. first it occurred on our side by allowing the wrong people to have the microphone. secondly, there was a working group in the senate which who could have produced a package along the lines of simpson-bowles or a ryan proposal but they never received the support they needed from the whitehouse to do that because t
which is defensible in the context of history because every president has negotiated on the debt ceiling. he served on the senate. he knows the only time the senate acts is when there's a pressure point when the congress acts there's a pressure point. pressure points are almost always things like continuing resolutions, debt ceilings or recesses. >> rose: i'm not here to defend him because i believe it's better to engage than not engage. at the same time wasn't he engaged, wasn't he on...
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Sep 22, 2013
09/13
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this is done with a simple, usually routine vote to raise what's called the debt ceiling. since the 1950's, congress has always passed it, and every president has signed it, democrats and republicans, including president reagan. and if this congress doesn't do it within the next few weeks, the united states will default on its obligations and put our entire economy at risk. this is important. raising the debt ceiling is not the same as approving more spending. it lets us pay for what congress already spent. it doesn't cost a dime, or add a penny to our deficit. in fact, right now, our deficits are already falling at the fastest rate since the end of world war ii. and by the end of this year, we'll have cut our deficits by more than half since i took office. but reducing our deficits and debt isn't even what the current standoff in congress is about. now, democrats and some reasonable republicans are willing to raise the debt ceiling and pass a sensible budget, one that cuts spending on what we don't need so we can invest in what we do. and i want to work with those democra
this is done with a simple, usually routine vote to raise what's called the debt ceiling. since the 1950's, congress has always passed it, and every president has signed it, democrats and republicans, including president reagan. and if this congress doesn't do it within the next few weeks, the united states will default on its obligations and put our entire economy at risk. this is important. raising the debt ceiling is not the same as approving more spending. it lets us pay for what congress...
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Sep 22, 2013
09/13
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with a simple, usually routine vote, to raise what is called the debt ceiling. since the 1950s, congress has always passed it and every president has signed it trade democrats and republicans, including president reagan. if this congress does not do it within the next few weeks, the united states will default on its obligations and put our entire economy at risk. .his is important raising the debt ceiling is not the same as approving more spending. it lets us pay for what congress already spent. it does not cost a dime or at a penny to our deficit. in fact, right now our deficits are already following since -- falling at the facet rate since the end of world war ii. deficit bye cut our more than half since i took office. kratz and somema reasonable republicans are willing to raise the debt ceiling and pass a sensible budget. one that cuts spending on what we don't need so we can invest in what we do. with thoseork democrats and republicans on a better bargain for the middle class. but there is also a faction on the far right of the republican party who have conv
with a simple, usually routine vote, to raise what is called the debt ceiling. since the 1950s, congress has always passed it and every president has signed it trade democrats and republicans, including president reagan. if this congress does not do it within the next few weeks, the united states will default on its obligations and put our entire economy at risk. .his is important raising the debt ceiling is not the same as approving more spending. it lets us pay for what congress already...
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Jan 28, 2013
01/13
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CSPAN2
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and we have sort of the best to come yet because we haven't decided on the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us on vietnam, on the watergate crisis, and we came charging back. i think we will do here. but it would be nice if we didn't have to go to the cliff each time to do it. >> and again, when you start talking about the kind of relationships and the kind of leadership, you know, we still seem to have this atmosphere where people talk more at each other than trying to find some common ground, some common goal in getting it down. you broach the whole growth of growth and jobs, and that is the answer to all of us. you also talk a lot about contagion on this one. we all sensed that if the european situation got worse, and they represent 23% of world gdp, the effect it's going to have on the united states, india, brazil, it's going to be real. and so with 40% of export coming here to the united states and so forth, all of a sudden we started to see
and we have sort of the best to come yet because we haven't decided on the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us on vietnam, on the watergate crisis, and we came charging back. i think we will do here. but it would be nice if we didn't have to go to the cliff each time to do it. >> and again, when you start talking about the kind of relationships and...
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Oct 9, 2013
10/13
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out of place though matter how long the timeframe is on the debt ceiling bills that they would -- be the only thing i would say is we are not going to pay a ransom for america paying its bills. that's something that should be nonnegotiable and everybody should agree on that. everybody should say one of the most valuable things we have is america's creditworthiness. this is not something we should even come close to fooling around with. so when i read people saying this wouldn't be a big deal, we should test it out. let's take default out for a spin and see how it rides and i say, imagine in your private life if you decided that i'm not going to pay my mortgage for a month or two. first first of all you are not saving money by not paying your mortgage. you are just a deadbeat. and you can anticipate that will hurt your credit, which means that in addition to the debt electors calling you were going to have trouble borrowing in the future. and if you are able to borrow in the future you're going to have to borrow at a higher rate. well what's true for individuals is also true for natio
out of place though matter how long the timeframe is on the debt ceiling bills that they would -- be the only thing i would say is we are not going to pay a ransom for america paying its bills. that's something that should be nonnegotiable and everybody should agree on that. everybody should say one of the most valuable things we have is america's creditworthiness. this is not something we should even come close to fooling around with. so when i read people saying this wouldn't be a big deal,...
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Oct 11, 2013
10/13
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with congress preoccupied with the shutdown and the debt ceiling that is not likely to change. joe berg is the executive director of the new york city coalition against hunger. welwellwelcome andwroa. joe. >> tell me what will happen with the lowering of the amount of food stamps. they are trying to disstract the government from what is happening. this november 1st everyone of the food stamp resi recipients n america are going to get a cut. and the farm bill cuts are in addition to that. and the cuts that we are experiencing now as part of the see quesare in addition to that. on a personal level how does it impact them? what does it mean? >> already a clinic in north carolina that serves women and infant and children kids under five. a program that prevented half a million babies at birth soup kitchens in new york city have to ration food and turn people away and serve fewer families and reduce their hours of operation for all of the right wing tal talk let's help, the realities the right wingers have cut aid even to the agencies they claim should be the solution. >> there are
with congress preoccupied with the shutdown and the debt ceiling that is not likely to change. joe berg is the executive director of the new york city coalition against hunger. welwellwelcome andwroa. joe. >> tell me what will happen with the lowering of the amount of food stamps. they are trying to disstract the government from what is happening. this november 1st everyone of the food stamp resi recipients n america are going to get a cut. and the farm bill cuts are in addition to that....
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Jan 5, 2013
01/13
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the debt ceiling law was established to give the u.s. treasury the flexibility to borrow money without going to congress to get approval every time a bill was passed. it had absolutely nothing to do with spending control or debt control. it was a technicality. most functioning countries don't have any such thing because they understand that if the government spends the money it has to pay the bills. republicans seem to think the debt creeling is is a good tool to limit how much the government spends. the current debt ceiling was officially hit on december 31st, but like last time the u.s. treasury is using extraordinary measures to get it through. and sometime about late february or early march, they might. if congress doesn't act by then, the government risks not being able to pay some of its bills. now, as if that's not enough, by march 1st we could be heading off the sequester cliff. that's because the fiscal cliff deal that passed last week put off what to do with government spending for two months. blanket cuts are still mandated by
the debt ceiling law was established to give the u.s. treasury the flexibility to borrow money without going to congress to get approval every time a bill was passed. it had absolutely nothing to do with spending control or debt control. it was a technicality. most functioning countries don't have any such thing because they understand that if the government spends the money it has to pay the bills. republicans seem to think the debt creeling is is a good tool to limit how much the government...
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Jan 29, 2013
01/13
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CNBC
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we ask do you think congress is going to increase the debt ceiling every time it's reached, refuse to raise it at some point and don't know? you can see 86% are saying that congress will raise the debt ceiling every time it's reached this year, when i think about some of the reasons why stocks have gotten higher because i think that thread along with the fiscal cliff has come out of the market and that there's overwhelming sentiment that coss i solve the get problem. we asked wall street to grade our treasury secretary going out and one coming in. you can see a pretty strong sentiment that he was a seed secretary with a 2.2. jack lew, the sentiment there. 2.0. one more thing on the deficit i just want to say and maybe this is worthy of discussion here. i think this is a sign that things have improved, at these economists and guys on wall street are saying we should solve the deficit and do it now. i think if things were as bad as they were say the last couple years there might be less sense that we urgently need to fix the deficit problem. mike england from action economics said if we
we ask do you think congress is going to increase the debt ceiling every time it's reached, refuse to raise it at some point and don't know? you can see 86% are saying that congress will raise the debt ceiling every time it's reached this year, when i think about some of the reasons why stocks have gotten higher because i think that thread along with the fiscal cliff has come out of the market and that there's overwhelming sentiment that coss i solve the get problem. we asked wall street to...
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Jan 31, 2013
01/13
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dollar increase in the debt ceiling. those amendments expected to be defeated. the bill won't technically raise the debt ceiling, but it will suspend it until may 19th when it will be raised by the amount that the treasury borrows in the interim. that's how it's going to work. and markets, as we've been talking about on a tear this month with the dow having its best january in decades. but will yesterday's surprising drop in gdp reign in the bulls, it says here? let's get a read on the state of the economy. at least it wasn't a -- that kind of rein. there's three of them. anyway, joining us for the next hour is bob bruska. that's fao -- >> no. you cannot. >> fao economics. as becky said at the top, things are going to go really well or the market is going to have an '87 crash. >> i like the binary outlook. >> everything you said was so good until you gout to that point. >> he usually wears one of these very clever ties. >> i'm not going to give him any -- >> there you go, joe. >> you didn't forget because you are getting
dollar increase in the debt ceiling. those amendments expected to be defeated. the bill won't technically raise the debt ceiling, but it will suspend it until may 19th when it will be raised by the amount that the treasury borrows in the interim. that's how it's going to work. and markets, as we've been talking about on a tear this month with the dow having its best january in decades. but will yesterday's surprising drop in gdp reign in the bulls, it says here? let's get a read on the state of...
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Jan 19, 2013
01/13
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CNNW
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in the last ten years alone we've raised the debt ceiling every year with the exception of one. america's concerns about the federal budget deficit and government dysfunction rose high enough in january to actually knock unemployment out of the top spot on gallup's list of most important problems for the first time since 2009. i want to bring in a man who's played a leading role in actually passing budgets through all parts of the budget process. he was the chairman of the house budget committee. jim nuss el guided six budgets through congress, served as the director of the office of budget and management. his nickname is knuckle, which is pretty cool. from 2001 to 2007 you were the house budget chief. today that job belongs to paul ryan. why were we able to get budgets done when you ran things and can't do it anymore? try not to give me a particularly political or partisan answer. >> it's all personal ability, of course, right? no. look. these are good people trapped in a very difficult if not terrible situation. with a process they're not even using anymore. you went through a
in the last ten years alone we've raised the debt ceiling every year with the exception of one. america's concerns about the federal budget deficit and government dysfunction rose high enough in january to actually knock unemployment out of the top spot on gallup's list of most important problems for the first time since 2009. i want to bring in a man who's played a leading role in actually passing budgets through all parts of the budget process. he was the chairman of the house budget...
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Oct 14, 2013
10/13
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FBC
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ceiling every time the market has sold off a bit, there's been a bid. so there's really never been a derisking trade going on. there hasn't been a lot of short selling, there's always a bid on stocks. so we certainly believe that the market beliefs it and, quite frankly, we think the results would be untenable so, yes, we do think a deal will take place. liz: you folks have about seven billion in assets under management, so if you were an optimistic about this, last time you were here you really liked unilever, but let's move on to your new names, and you have got two funds, the touchstone small cap and the oppenheimer developing markets fund. let's start with the small caps. you're a believer right now in those, whysome. >> yes, liz. we like small cap domestic for a firm of reasons. one, we with think the valuations are very attractive and the growth prospects, certainly, are there. secondly, in the low interest rate environment we think the fed will keep rates low, notwithstanding the tapering issue, and we think short-term rates are low, short-term i
ceiling every time the market has sold off a bit, there's been a bid. so there's really never been a derisking trade going on. there hasn't been a lot of short selling, there's always a bid on stocks. so we certainly believe that the market beliefs it and, quite frankly, we think the results would be untenable so, yes, we do think a deal will take place. liz: you folks have about seven billion in assets under management, so if you were an optimistic about this, last time you were here you...
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Sep 7, 2013
09/13
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issue, remember the debt ceiling or issue or whatever it is, but when it's a serious contemplation, an act of war or a response to aggression by the assad regime. everybody is watching how it goes, because many people are reeling from the shock that britain delivered in its parliament when they voted down prime minister cameron in his authority to take action, and the question is who is maintaining the word order? america can play an intrusive role in some of the majorly important interventions and responses that have to be taken. >> one of the big problems facing president obama right now is that many americans are against the military action in syria, and many americans reeling from the wars in a iraq and afghanistan which cost more in blood and treasure than many first estimated and it makes it difficult for the president to rally for support here and abroad. what does this president risk if the united states fails to follow-through on holding the red line? >> you are right, it's unpopular in the united states and unpopular in britain where the prime minister was delivered a crus
issue, remember the debt ceiling or issue or whatever it is, but when it's a serious contemplation, an act of war or a response to aggression by the assad regime. everybody is watching how it goes, because many people are reeling from the shock that britain delivered in its parliament when they voted down prime minister cameron in his authority to take action, and the question is who is maintaining the word order? america can play an intrusive role in some of the majorly important interventions...
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Sep 3, 2013
09/13
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if you thought it was a bad idea, the debt ceiling is a worse idea. he must entertain every hair brained idea no matter how hair brained. that's the only way to maintain control of his caucus. >> he keeps promising something worse later. he keeps trading a shut down for a debt sealing is like trading f food for septic shock. i think the rabid wolverines are there. i don't think they are able to rake any of this. i think the teams have a common criticism among republicans. they live to get to tomorrow. they don't have a plan and they don't know how to make that the people will stick to. things like a plan b. that's the real uncertainty here. at the end, leadership could cut the deal and the members go behind them. the leadership does not know what deal it can cut. they are trying to get through the next crisis. the way they do that is by making the one after that. that may not happen next time. >> you don't think that given all the things that are happening this fall, when i said freak out, we are going to have a freak out between syria and what's happ
if you thought it was a bad idea, the debt ceiling is a worse idea. he must entertain every hair brained idea no matter how hair brained. that's the only way to maintain control of his caucus. >> he keeps promising something worse later. he keeps trading a shut down for a debt sealing is like trading f food for septic shock. i think the rabid wolverines are there. i don't think they are able to rake any of this. i think the teams have a common criticism among republicans. they live to get...
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Jan 14, 2013
01/13
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not careening from a debt ceiling to a fiscal cliff and tax credits that expire every few months. somehow the government as a whole has to come together to give business the confidence it needs. >> the single most important cost that we need to get under control is health care. which now takes up 17% of gdp and still rises much faster than inflation every year. peter orzag ran president obama's office of management and budget during the first term. he says obama care moves us away from a bad model, where doctors and hospitals have a financial incentive to sell you lots of services. >> getting health care costs down is fundamental to the long term fiscal health of the country. what does it need to do in the second term? >> we don't need to wait until 2020. the big gap that remains is medical malpractice reform. what i would favor is finding a safe harbor to a doctor, if you can show you're following an evidence based protocol, i shouldn't be able to sue you. >> tax and health care reform would have huge benefits. but getting them done will be hard. >>> coming up next, is there an e
not careening from a debt ceiling to a fiscal cliff and tax credits that expire every few months. somehow the government as a whole has to come together to give business the confidence it needs. >> the single most important cost that we need to get under control is health care. which now takes up 17% of gdp and still rises much faster than inflation every year. peter orzag ran president obama's office of management and budget during the first term. he says obama care moves us away from a...
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Oct 9, 2013
10/13
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then serious negotiations could proceed around every item in the budget. now, as soon as congress votes to reopen the government, it's also got vote to meet our country's commitments, pay our bills, raise the debt ceiling because as reckless as a government shutdown is, the economic shutdown caused by america defaulting would be dramatically worse. i want to talk about this for a minute because even though people can see and feel the effects of a government shutdown, they are already experiencing it right now, there are still some people out there who don't believe that default is a real thing. we have been hearing that from some republicans in congress that default would not be a big deal. so let me explain this. if congress refuses to raise what's called the debt ceiling, america would not be able to meet all of our financial obligations for the first time in 225 years. and because it's called raising the debt ceiling, i think a lot of americans think it's raising our debt. it is not raising our debt. it does not add a dime to our debt. it simply says yo
then serious negotiations could proceed around every item in the budget. now, as soon as congress votes to reopen the government, it's also got vote to meet our country's commitments, pay our bills, raise the debt ceiling because as reckless as a government shutdown is, the economic shutdown caused by america defaulting would be dramatically worse. i want to talk about this for a minute because even though people can see and feel the effects of a government shutdown, they are already...
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Sep 24, 2013
09/13
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CNBC
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everybody in the media, the social media, every magazine, every newspaper talking about debt ceiling. you know, all for one and one for all. when you look at the economies of europe, china, the u.s., japan, it's almost as though there has been a pact. we've talked many times about how stimulus in one country -- when everybody is interconnected globally, stimulus is fungible. it moves around the globe. when capital becomes more accessible, it doesn't necessarily matter where the country of origin is. it just starts working its way around the globe. now, consider. it's almost as though there's a self-insurance going on. if just one of the big economies had too much debt or too many problematic areas of leverage within the economy or not enough growth to sustain long-term debt and obligations, the other major economies would clean the table. but when you have everybody with the same strategy, it's almost like self-debt insurance, because if anything goes haywire, one thing we have learned is the central banks will do anything to keep the central music playing. if something happens, a res
everybody in the media, the social media, every magazine, every newspaper talking about debt ceiling. you know, all for one and one for all. when you look at the economies of europe, china, the u.s., japan, it's almost as though there has been a pact. we've talked many times about how stimulus in one country -- when everybody is interconnected globally, stimulus is fungible. it moves around the globe. when capital becomes more accessible, it doesn't necessarily matter where the country of...
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Oct 8, 2013
10/13
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something to raise the debt ceiling. democrats argue that might be true, but up until the 11th hour and not down to the wire we are right now and as we were two years ago in 2011. i think in their heart of hearts, republicans probably realize that, but you know what? we are in a very different world than we were even two years ago because of the fact that john boehner has gone down this road that he didn't want to go down to begin with, negotiating first on obama care, on the spend bill, and now on the debt ceiling. he really wanted to start off, wolf, with the debt ceiling. he wanted to put all of their eggs in the debt ceiling basket with regard to negotiations and it got a little muddled and i think republicans up here on capitol hill can see that. so that's why they are having a hard time getting back on the message train, if you will, and the president has been very consistent. i'm not negotiating. you know, we have to pay our bills. we have to pass the debt ceiling increase and fund the government. i'm not negotiat
something to raise the debt ceiling. democrats argue that might be true, but up until the 11th hour and not down to the wire we are right now and as we were two years ago in 2011. i think in their heart of hearts, republicans probably realize that, but you know what? we are in a very different world than we were even two years ago because of the fact that john boehner has gone down this road that he didn't want to go down to begin with, negotiating first on obama care, on the spend bill, and...
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Dec 15, 2013
12/13
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i think you know every package has been attached to a debt ceiling. even today's budget control act, every president in your lifetime and my lifetime has negotiated on a debt ceiling. i've had our capable staff research the issue. the debt ceiling tends to be the early warning system that spending is out of control, yet on september 15 of this year the president took the unprecedented radical action of stating "i will not negotiate on the debt ceiling." so is it the position of this administration that if congress does not functionally repeal the debt ceiling and allow the president to spend what he wishes that he is threatening default on our sovereign debt? >> mr. chairman, i would disagree with the characterization of the debt ceiling as an early warning. the debt ceiling is at the very end. all the decisions congress makes on entitlement programs that determines -- >> my time is almost up -- are you aware of any other president in our lifetime who has taken the radical position of stating he will not negotiate deficit reduction on the debt sealing
i think you know every package has been attached to a debt ceiling. even today's budget control act, every president in your lifetime and my lifetime has negotiated on a debt ceiling. i've had our capable staff research the issue. the debt ceiling tends to be the early warning system that spending is out of control, yet on september 15 of this year the president took the unprecedented radical action of stating "i will not negotiate on the debt ceiling." so is it the position of this...
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Sep 3, 2013
09/13
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ceiling loom larger every day. will the president be forced to make some deals on those issues to win enough votes on syria? peter orszag used to be in the middle of such affairs as white house budget director. he is now vice-chairman of global banking at citigroup and he's back with us today. peter, good to see you. >> good to be here. >> let me begin with syria. the president needs the votes. today, we heard john boehner say he agrees with the president, military action. would there be a scenario where some congressman would say, okay, i'll give you a yes and i will agree with you on syria, but i need some concessions when it comes to the debt ceiling and cutting back on spending? >> well, they may say that, but the question is, where is that middle ground? because it's really hard -- congressman goes to the president says, i'll give you a vote on syria in exchange for delaying obamacare? i don't think so. the question is, what would that congressman or woman ask for in exchange, that the president could actually
ceiling loom larger every day. will the president be forced to make some deals on those issues to win enough votes on syria? peter orszag used to be in the middle of such affairs as white house budget director. he is now vice-chairman of global banking at citigroup and he's back with us today. peter, good to see you. >> good to be here. >> let me begin with syria. the president needs the votes. today, we heard john boehner say he agrees with the president, military action. would...
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Oct 7, 2013
10/13
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we have submitted to them that after they pass that in the debt ceiling, every single thing is on the table. you know, i was thinking the other day if you're a teacher and you get hired in a school and the school opens for work at 9:00 every morning, you have to be in the classroom at 9:00 in the morning in order to keep your job. if you weren't in your classroom at 9:00 in the morning and you decided i don't really want to show up, i want to do something different, i want to change the rules. i don't like 9:00. i'd like to come in at 11:00, you would be fired. well, our job is to keep the government running and to pay the bills we've incurred. we don't get to pick and choose or decide what all of a sudden the middle -- all of a sudden in the middle of everything we're going to cancel out a law that passed three and a half years ago. this is so bad that the republican candidate for governor in virginia has said stop it, open up the government, and then debate health care. the good news is speaker boehner could change his mind, bring our bill up in a few minutes' time. i know how it wo
we have submitted to them that after they pass that in the debt ceiling, every single thing is on the table. you know, i was thinking the other day if you're a teacher and you get hired in a school and the school opens for work at 9:00 every morning, you have to be in the classroom at 9:00 in the morning in order to keep your job. if you weren't in your classroom at 9:00 in the morning and you decided i don't really want to show up, i want to do something different, i want to change the rules....
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Oct 17, 2013
10/13
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it will raise the debt ceiling until february 7th. that's not that far away. lawmakers are required to try and hammer out a long-term deal through a bipartisan committee. democrats have weighed in following their vote. >> averting this crisis is historic. let's be honest. this is pain inflicted on a nation for no good reason and cannot make cannot make the same mistake again. >> this is not a happy day. it's a somber day. because at the end of the day, we never should have gone through wa we went through. joining us from washington is tracie potts. they say we shouldn't have gone through what we've gone twlu what are the chances of it repeating again? >> fairly good chance that we'll see some back and forth, but in terms of a shutdown that lasts this long, likely not. there was serious damage done here on damage to the economy, $24 billion loss in the course of this shutdown and very much damage politically to both parties. but especially the republican party. poll after poll has shown that the american public more so than the democra
it will raise the debt ceiling until february 7th. that's not that far away. lawmakers are required to try and hammer out a long-term deal through a bipartisan committee. democrats have weighed in following their vote. >> averting this crisis is historic. let's be honest. this is pain inflicted on a nation for no good reason and cannot make cannot make the same mistake again. >> this is not a happy day. it's a somber day. because at the end of the day, we never should have gone...
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Oct 10, 2013
10/13
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has been forced to raise that debt ceiling every year or two? >> no, i want to respond to what congressman becerra because it ties right into this. we're where we're at today because we haven't addressed these problems. nobody says we're going to default. nobody has said that we're not going to pay our bills. you know, constitutionally, we cannot default. so we're going to pay the bills, going to pay our veterans, going to pay that, so to say that is being disingenuous. >> let's let the congressman respond. go ahead. >> wolf, the reason you have to have a debt limit increase is because we are right now recovering from a very deep recession and if the republicans didn't want our troops to have the uniforms that they need, to have the equipment they need to protect themselves, then they shouldn't have voted last year for a budget that provided them that. if they didn't want for veterans to get the services they need after they have come home and left the service, they shouldn't have voted for the budget that provided for that. but today, we're try
has been forced to raise that debt ceiling every year or two? >> no, i want to respond to what congressman becerra because it ties right into this. we're where we're at today because we haven't addressed these problems. nobody says we're going to default. nobody has said that we're not going to pay our bills. you know, constitutionally, we cannot default. so we're going to pay the bills, going to pay our veterans, going to pay that, so to say that is being disingenuous. >> let's let...
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Jan 14, 2013
01/13
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not careening from a debt ceiling debacle to a fiscal cliff to some other issue with tax credits that expire every few months and all that kind of stuff so i think somehow the government as a whole has to come together in order to give business the confidence it needs. >> the single most important cost that we need to get under control is health care. which now takes up 17% of gdp and still rises much faster than inflation every year. peter or zag ran president obama's office of management and budget in the first term. he says obama care moves us away from a bad model where doctors and hospital haves a financial incentive to sell you lots of services. getting health care costs down is absolutely fundamental to the long-term fiscal health of the country. >> i think there's several things. i would point to moving much more aggressively away from fever service, even more rapidly. we don't need to wait until 2020. in addition i think the big gap that remains is medical malpractice reform and what i would favor is a safe harbor to a doctor. if you can show you're following an evidence-base
not careening from a debt ceiling debacle to a fiscal cliff to some other issue with tax credits that expire every few months and all that kind of stuff so i think somehow the government as a whole has to come together in order to give business the confidence it needs. >> the single most important cost that we need to get under control is health care. which now takes up 17% of gdp and still rises much faster than inflation every year. peter or zag ran president obama's office of...
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Jan 15, 2013
01/13
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every year we pick a new city to explore. but thanks to hotwire, this year we got to take an extra trip. because they get us ridiculously low prices on really nice hotels and car rentals. so we hit boston in the spring-- even caught a game. and with the money we saved, we took a trip to san francisco. you see, hotwire checks the competitions' rates every day so they can guarantee their low prices. so, where to next? how about there? ♪ h-o-t-w-i-r-e... ♪ hotwire.com sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. >>> just remind you at the moment, the british
every year we pick a new city to explore. but thanks to hotwire, this year we got to take an extra trip. because they get us ridiculously low prices on really nice hotels and car rentals. so we hit boston in the spring-- even caught a game. and with the money we saved, we took a trip to san francisco. you see, hotwire checks the competitions' rates every day so they can guarantee their low prices. so, where to next? how about there? ♪ h-o-t-w-i-r-e... ♪ hotwire.com sven gets great rewards...
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Jan 6, 2013
01/13
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ceiling and, also, you face the sequester across the board on spending. that could be very, very messy. and i think people have every right to be concerned about whether you'll see any kind of sensible resolution between the democrats and republicans. what's worrying is that neither leader, neither john boehner, speaker of the house of representatives, he doesn't seem to be able to control his conservative republicans in the house and mr. obama, president obama, strangely reluctant to take the lead this week. he left it to vice president biden. >> well, again, i would take a rather more optimistic view about the politics, as well. we can all agree that it's a very messy process, politics all over the world in europe and in washington lionel and i both worked for the fd in washington, so, we understand that process reasonably well. i actually think that the next two months are more encouraged about the out look for the next two months for what happened in the last few weeks in washington precisely because in a sense they've gone through a cathartic experie
ceiling and, also, you face the sequester across the board on spending. that could be very, very messy. and i think people have every right to be concerned about whether you'll see any kind of sensible resolution between the democrats and republicans. what's worrying is that neither leader, neither john boehner, speaker of the house of representatives, he doesn't seem to be able to control his conservative republicans in the house and mr. obama, president obama, strangely reluctant to take the...
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Jan 9, 2013
01/13
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i want to see one dollar of entitlement cuts for every dollar the debt ceiling is raised. >> you're not normally this mean, this nasty. >> i'm with you and you inspire me. >> you know what, we are coming together somewhere in the middle. you know what we're doing in a word, two words, we're rising above, dude. you got your pen? get you a pen. we're rising above. where's yours? we'll get you one. >> byron, i want to go through some of your predictions. >> surprises. >> surprise predictions, surprises that could come up over the course of next year. you spend a lot of time trying to figure out what the market's doing and consensus is and where it could be taken off guards in some places. i want you to react. start with number 10, that eu structural problems we main unresolved. when i first heard that, i don't think they will be unresolved. you're right, the market has bid things it's looking like the world is better. >> last year, all the european markets were up and europe was in a semi-recession and all the european markets were up semi-20% and i have them down this year in reaction. >>
i want to see one dollar of entitlement cuts for every dollar the debt ceiling is raised. >> you're not normally this mean, this nasty. >> i'm with you and you inspire me. >> you know what, we are coming together somewhere in the middle. you know what we're doing in a word, two words, we're rising above, dude. you got your pen? get you a pen. we're rising above. where's yours? we'll get you one. >> byron, i want to go through some of your predictions. >> surprises....
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Sep 20, 2013
09/13
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this is usually done with a simple routine vote to raise what is called the debt ceiling. if you do not raise the debt ceiling, america cannot pay its bills. 1950's, congress has always passed it. every president has signed it. democrats, republicans, ronald reagan. [laughter] lyndon johnson. it does not matter. this is just a routine thing you have got to do so treasury can pay the bills. not pass thises debt ceiling in the next few weeks, the united states will default on its obligations. that has never happened in american history. basically, america becomes a deadbeat. world sees america not paying its bills, they will not bills fromreasury the united states. if they do, they will do it at much higher interest rates. f1 50e wanting to buy an will have to pay much higher interest rates eventually, which means you will sell less cars. that is one example of how profoundly distraught and -- destructive this could be. this is not an abstract thing. raising the debt ceiling is not the same as approving more spending. anymore than making your monthly payments adds to the koe
this is usually done with a simple routine vote to raise what is called the debt ceiling. if you do not raise the debt ceiling, america cannot pay its bills. 1950's, congress has always passed it. every president has signed it. democrats, republicans, ronald reagan. [laughter] lyndon johnson. it does not matter. this is just a routine thing you have got to do so treasury can pay the bills. not pass thises debt ceiling in the next few weeks, the united states will default on its obligations....
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Jan 5, 2013
01/13
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we've got the debt ceiling. it seem likes every three months we are having one problem after another. how can you build confidence on this? host: t.j. doesn't express confidence in his tweet. he said government is in $16 trillion of debt and borrows 47% of every dollar spent. $48 million on food stamps. then greece bound. staten island, new york, joe on the independent line who is worried about the economy. caller: hello. how are you doing? i'm optimistic and worried. host: ok. tell us why. caller: the reason i'm worried is even though the job high for december supposedly was up, it is only up because december is a very strong month as far as needing jobs. we will see january. january you will be seeing a lot of layoffs that will occur. as far as we need jobs. the economy is great and we are building houses like crazy. the main thing is creating jobs. if people are working, people are happy. host: tells about your personal situation. where do you fall in the worried/optimism camp? caller: i'm worried because i d
we've got the debt ceiling. it seem likes every three months we are having one problem after another. how can you build confidence on this? host: t.j. doesn't express confidence in his tweet. he said government is in $16 trillion of debt and borrows 47% of every dollar spent. $48 million on food stamps. then greece bound. staten island, new york, joe on the independent line who is worried about the economy. caller: hello. how are you doing? i'm optimistic and worried. host: ok. tell us why....